From Matthew Graham at Mortgage News Daily: MBS RECAP: Fighting Good Fight, Waiting on Fed Day
Coming off a fairly rough Friday at the end of last week, it’s mildly reassuring to begin the new week with no additional damage. … The takeaway is simple: it’s a rising rate environment until proven otherwise. If one event has the power to change the trading tone in bonds this week, it’s Wednesday’s Fed Announcement [30 year fixed 3.33%]
• At 8:30 AM ET, Retail sales for February is scheduled to be released. The consensus is for a 0.5% decrease in retail sales.
• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for February. The consensus is for a 0.6% increase in Industrial Production, and for Capacity Utilization to increase to 75.8%.
• At 10:00 AM, The March NAHB homebuilder survey. The consensus is for a reading of 83, down from 84. Any number above 50 indicates that more builders view sales conditions as good than poor.